Bulletin

ENRC sees volatile outlook as profit rises 63%

SimonKennedy

LONDON (MarketWatch) -- Mining group Eurasian Natural Resources Corp.
enrc
said Wednesday that its first half net profit rose 63% to $902 million as revenue grew 80% to $3.05 billion due to a mixture of acquisitions, higher commodity prices and improved sales volumes. Underlying earnings before interest, taxes, depreciation and amortization more than doubled to $1.44 billion and were slightly ahead of the $1.4 billion consensus of analysts polled by Dow Jones Newswires. The company said its performance was driven by a recovery in its traditional markets and the continued strength of the Chinese economy. "There is a risk of commodity market volatility in the near term and the management of costs remains a challenge," it added.

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